Speaking on Bloomberg Markets, Alon Rosin suggested an options strategy in Yelp Inc (NYSE:YELP) ahead of earnings.

The company is going to report earnings on Thursday and Rosin recommended a put backspread strategy for investors with a long position in the name. For a position of 500,000 shares, he would sell 2,500 contracts of the June 48 put and buy 7,500 contracts of the June 45 put for a total debit of $1 or $500,000.

If the stock gets crushed, the investors are going to be stopped out of the 500,000 shares long position through the extra 5,000 puts they own, explained Rosin.